Ministry of Commerce & Industry
IITF to show India is "Back in Business" - Shri Goyal
We are on a historical high of exports of goods and services" - Shri Piyush Goyal
India will ensure that World gets fair and equitable distribution of Covid vaccines and remains safe - Shri Goyal
The world takes India as a trusted global partner in maintaining supply chains - Shri Goyal
"Despite the lockdown India did not default on any service support to the global community" - Shri Goyal
Shri Piyush Goyal inaugurates the 40th IITF
The Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal has said we are on historical high of exports of goods and services. Inaugurating the 40th IITF here today, he said the world takes India as a trusted global partner in maintaining global supply chains.
Shri Goyal said despite the lockdown India did not default on any service support to the global community. India has been witnessing historic high of FDIs. Highest ever FDI in first 4 months. It's 62 % higher than samw period last year. IITF will show India is back in business, he added.
Shri Goyal listed five major Sutras of Bharat i.e. Economy, Exports, Infrastructure, Demand & Diversity. He said that Better Infrastructure, Demand for good development Diversity in Growth will become the pivot of economic resurgence.
Shri Goyal praised the quality of unprecedented Infrastructure development in Uttar Pradesh. Shri Goyal also complimented the state government for its emphasis on Export development.
Shri Goyal said IITF will push the mission of Aatma Nirbhar Bharat and shall encourage the idea of Vocal for Global.
Shri Goyal said we are implementing the largest vaccination drive in the world, having administered more than 110 crore doses. 500 crore will be produced next year and 5 or 6 vaccines will be made in India including the world's first nasal vaccine and first DNA vaccine. India will provide vaccine security and make the world a safer place. India will ensure that every part of the world gets equitable vaccine to get safe.
Shri Goyal said the IITF has returned after a gap of 1 year in its 40th edition with double josh & powered by the double engine of ‘Aatmanirbharta’ & ‘Azadi ka Amrit Mahotsav’. He commended ITPO for mounting the Trade Fair in a short time and with the largest participation of over 3,000 exhibitors, demonstrating that the world is looking at India as a “Trusted Partner”.
He said more than 750 women/Self Help Group exhibitors demonstrate the potential of Nari Shakti of India.
Shri Goyal said India can become the world’s hub of Industry & Services. Indian Industry can soar to new heights on Quality, Competitiveness & Economies of Scale. IITF will help realise the goal of ‘Local goes Global’ & ‘Make in India for the World’.
Shri Goyal said COVID-19 had caused disruption but under the bold & decisive leadership of the Prime Minister Shri Narendra Modi, & the collective will of the people, India registered a remarkable rebound.
Shri Goyal said there was highest ever FDI inflow $ 27 bn during first 4 months of FY 21-22, over 62% over same period in FY 20-21, highest ever exports: Merchandise exports in Apr-Oct 2021 was $ 232 bn .
Shri Goyal said international rating agency Moody’s upgraded India’s sovereign rating outlook to ‘Stable’ from ‘Negative’. GST collections surged to Rs 1.3 lakh cr in October, ₹1.25L cr retail sales during Diwali, Manufacturing PMI rose to 55.9 in October, Service PMI reached a decade high of 58.4 last month. India has now become “The destination” for investments, with its investor friendly, he said.
Shri Goyal said India is learning, applying & marching ahead confidently on a growth path with ‘Vishwas, Saath and Prayas’ of 130 cr citizens.